Daily Market Commentary

April 12, 2019

Bonds
Treasuries are near session lows after falling sharply at the European open led by bunds and gilts; gains for risk assets sparked by strongChinese loan and financing data for March spurred demand for aggressive downside hedges across 10-year options.

Economy
Stocks advanced on Friday as credit growth in China and the first earnings from major U.S. banks this season all beat expectations. The dollar fell and Treasuries slumped. The Stoxx Europe 600 Index reversed earlier losses and U.S. futures extended gains.

Global
The unexpectedly positive performance of Italy's manufacturers in January and February may mean Italy is the top contributor to a rise in the bloc’s industrial-output during the first quarter of 2019.

The information represented herein was obtained from various sources, which we believe to be reliable. Neither the information presented nor opinions expressed constitutes an offer to buy or sell any security. And it is not intended to guide the investor on which securities to buy or sell.

 

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